MUKHTAR JCA (Delivering the Lead Judgment): This is an appeal A against the ruling of the Federal High Court (the lower court) delivered on 14 July 1999 per M. B. Belgore, CJ setting aside the judgment of T. Odunowo J. of the same jurisdiction.
The case was previously commenced at the High Court of Lagos
State where the appellant as plaintiff sued the 1st respondent as defendant claiming the refund of one million naira (N1,000,000.00) invested in the 1st respondent’s business. The 2nd respondent guaranteed the refund of the said amount. The 1st respondent issued its cheque signed by the 2nd respondent for the one million naira (N1,000,000.00) to the appellant but it was returned unpaid. The appellant informed the two respondents about the non-payment of their cheque but nothing was done to redeem the value of the cheque. Consequently, the appellant sued the 1st respondent at the High Court of Lagos State in suit No. ID/2320/93 between Holdings Group Ltd v. Solid Mortgage Finance Ltd …